Figures published today show that the building society sector has strengthened its position in the mortgage and savings markets in the six months to September 2025.
Building societies and the two mutual-owned banks increased their mortgage balances by £7.5bn to £493bn and grew cash savings balances by £8.8bn to £496bn.
The organisations now hold 29% of outstanding UK mortgage balances yet provided 32% of net lending in the period.
More than 220,000 new mortgages were approved, representing 31% of all market approvals.
Their support for first-time buyers remains significant, with 59,861 mortgages provided to first-time purchasers in the six months to September.
Building societies and mutual-owned banks continued to attract a high share of savings, receiving 27% of all UK cash savings over the period, compared with their 23% market share of savings balances.
They also hold 46% of all Cash ISA balances, totalling £205bn, reflecting strong consumer appetite for straightforward products and competitive long-term value.
The sector continues to emphasise its community role, supported by the member-ownership model that prioritises consumer value rather than external shareholders.
Last year members received £4bn more in additional benefits than they would have received from banks.
Building societies also now account for 35% of all high street branches, up from 14% in 2012, with many continuing to invest in face-to-face services and repurposing branches to support local charities and community groups.
Robin Fieth, chief executive of the BSA, said: “Consumers are increasingly looking for providers that offer long-term value, fairness and inclusive access to services in their communities.
“These latest figures show that building societies continue to meet that demand, supporting people to buy their first home and helping households build their financial resilience.
“As member-owned organisations, our focus is on delivering real benefits to consumers and ensuring that value stays within local communities rather than being directed to external shareholders.
“While banks retreat from high streets and cut the local services communities rely on, building societies are doing the opposite – not only are they keeping branches open, but they are investing in them and opening new ones.
“Last week we launched the Building Society Sector Growth Plan, which called on government and regulators to drive capital reforms that would unlock the full potential of the sector.
“These changes will enable building societies to help even more people to buy their own home, safeguard their savings and strengthen communities across the UK.
“We’re not asking for special treatment, just recognition of the vital role building societies play in ensuring the UK has a diverse and competitive financial services market and the ability to realise the full potential of the sector.”
